Participation Assignment. Lender shall have the right to assign all or any of its rights under this Agreement and the Other Agreements, and/or to offer participation interests therein, to any Person, without the consent of Borrower. In such event, Borrower shall execute such agreements, instruments and documents as Lender shall request in connection therewith, including without limitation agreements, instruments and documents in favor of each assignee and participant.
Participation Assignment. (a) Each Bank reserves the rights (1) with notice to the Obligors, the Agent and the other Banks, to sell to any bank, savings and loan, savings bank, credit union, other deposit-taking financial institution or commercial lending institution, participations in all or any part of such Bank's Loans, Notes, Warehouse Line Commitment, Servicing Acquisition Line Commitment or interests under the Mortgage Pools Purchase Agreement and (2) with or without notice to the Obligors to pledge any or all of its interests under any or all of the Facilities to a Federal Reserve Bank. Participants shall have no rights under the Facilities Papers other than certain voting rights as provided below. Each Bank shall be entitled to obtain (on behalf of its participants) the benefits of this Agreement with respect to all participants in its Loans outstanding from time to time and in the interests allocated to it as a Warehouse Bank in the Mortgage Pools Purchase Agreement and in the Qualified Mortgage Loans and other Property owned by the Warehouse Banks under the Mortgage Pools Purchase Agreement from time to time; provided, that the Obligors shall not be obligated to pay any amount in excess of the amount that would be due to such Bank calculated as though no participation had been made. No Bank shall sell any participating interest under which the participant shall have any rights to approve any amendment, modification or waiver of any Facilities Papers, except to the extent such amendment, modification or waiver (1) extends the due date for payment of any amount in respect of principal, interest or fees due under the Facilities Papers or (2) reduces the interest rate or the amount of principal or fees applicable to any Loan or purchase under the Mortgage Pools Purchase Agreement (except only for such reductions, if any, as are contemplated by this Agreement). In those cases (if any) where a Bank grants rights to any of its participants to approve amendments, modifications or waivers of any Facilities Papers pursuant to the immediately preceding sentence, such Bank must include a voting mechanism as to all such approval rights in the relevant participation agreement(s) whereby a readily-determinable fraction of such Bank's portion of the Facilities under this Agreement (whether held by such Bank or participated) shall control the vote for all of such Bank's portion of such Facilities; provided, that if no such voting mechanism is provided for or is
Participation Assignment. (1) Each Lender will be entitled to sell participation in the Loan Documents and the credit facilities provided under the Loan Documents without the consent of the Borrower but no such participation will carry any voting rights.
Participation Assignment. Lender shall have the right to assign all or any of its rights under this Agreement and the Other Agreements, and/or to offer participation interests therein, to any Person, without the consent of Borrower. In such event, Borrower shall execute such agreements, instruments and documents as Lender shall request in connection therewith, including without limitation agreements, instruments and documents in favor of each assignee and participant; provided, however, that Borrower shall not be required or obligated to provide notices, reports, financial statements or other documents required hereunder to any assignee of Lender unless such assignee acquires all of Lender's rights and obligations under this Agreement and the Loan Documents.
Participation Assignment. 40 12. USURY NOT INTENDED; SAVINGS PROVISIONS.............................40
Participation Assignment. (a) This Term Loan Agreement shall be binding upon each of the Administrative Agent, the Borrower, the Lender and their respective successors and assigns; provided, however, that the Borrower may not assign its obligations under this Term Loan Agreement without the prior written consent of the Lender and the Administrative Agent.
Participation Assignment. Lender shall have the right to assign all or any of its rights under this Agreement and the Other Agreements, and/or to offer participation interests therein, to any Affiliate or Subsidiary of Lender, without the consent of Borrowers and, if an Event of Default has occurred under this Agreement, to any non-Affiliate or non-Subsidiary of Lender, without the consent of Borrowers. In addition, if the Maximum Credit exceeds $12,000,000.00, Lender shall have the right to assign all or any of its rights under this Agreement and the Other Agreements, and/or to offer participation interests therein, to any non-Affiliate or non-Subsidiary of Lender, without the consent of Borrowers; provided, however, that upon the consummation of such assignment or participation, Borrowers shall be entitled to terminate this Agreement without the payment of any fees described in SECTION 3(e) so long as no Event of Default has occurred under this Agreement and such termination, the full satisfaction of the Liabilities, and the provision of the release described in SECTION 10 are completed within one hundred and eighty days (180) from the earlier of the consummation or the giving of notice to Borrowers of such assignment or participation. In the event of any assignment or participation, Borrowers shall execute such agreements, instruments and documents as Lender shall request in connection therewith, including without limitation agreements, instruments and documents in favor of each assignee and participant.
Participation Assignment. (a) Each Bank reserves the rights (1) with notice to the Obligors, the Administrative Agent and the other Banks, to sell to any bank, savings and loan, savings bank, credit union, other deposit-taking financial institution or commercial lending institution, participations in all or any part of such Bank's Loans, Notes, Warehouse Line Commitment, and (2) with or without notice to the Obligors to pledge any or all of its interests under any or all of the Facilities to a Federal Reserve Bank provided, that no Bank (other than Bank One) may assign any portion of its commitment until the earlier of (i) the date upon which Bank One's commitment has been reduced to $75,000,000 or (ii) 120 days following the effective date hereof (the "Secondary Syndication"). Participants shall have no rights under the Loan Documents other than certain voting rights as provided below. Each Bank shall be entitled to obtain (on
Participation Assignment. 38 16.5 Cross Default; Cross Collateral................................38 16.6 Binding Effect; Governing Law..................................38 16.7 Execution in Counterparts......................................38 16.8
Participation Assignment. Lender shall have the right, without the necessity of any further consent or authorization by the Borrower, to sell, assign, securitize or grant participations in all, or a portion of, Lender's interest in the Revolving Loans, to other financial institutions of the Lender's choice and on such terms as are acceptable to Lender in its sole discretion. Lender shall request that each prospective participant or purchaser maintain the information and documentation submitted to such Person in confidence in accordance with their customary practices.
